Tuesday 1 December 2009

There is still no evidence QE is working

Independent
"In fact, the data that will really have worried the PM yesterday was released not in Ottawa but at Threadneedle Street, where the Bank of England's latest report on bank lending and money supply advances the case that its £200bn quantitative easing programme is working not a jot."
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At midnight last night, the United Kingdom ceased to be a sovereign state (Telegraph)
"At midnight last night, we ceased to be an independent state, bound by international treaties to other independent states, and became instead a subordinate unit within a European state.Yes, a European state. Take a quick dekko at the definition set out in Article One of the1933 Montevideo Convention on the Rights and Duties of States: “The state as a person of international law should possess the following qualifications: (a) a permanent population; (b) a defined territory; (c) government; and (d) capacity to enter into relations with the other states.”

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